Monday, July 17 2017 16:32
Naira Badalian

The Ministry of Finance of Armenia refutes: there was no sequester of the expenditure part of the state budget-2016

The Ministry of Finance of Armenia refutes: there was no sequester of  the expenditure part of the state budget-2016

ArmInfo. There was no sequestration  of the state budget-2016, Armenian Finance Minister Vardan Aramyan  told reporters on July 16 at a press conference.

Commenting on the rumors about the fact that after the April events  the Armenian government went on a budget review, Vardan Aramyan  stated that the sequestration of expenditure items was not applied.

In addition, the planned indicator of the expenditure part of the  budget-2016 in 1 trillion 376 billion AMD was exceeded. "Within the  framework of the countercyclical policy, the budget expenditures were  overfulfilled and by the end of the year amounted to 1 trillion 440  billion AMD," the head of the Armenian Ministry of Finance said.

To recall, according to the state budget of Armenia for 2016, the  expense item was fixed at the level of 1 trillion 377 billion AMD  (expenditure/GDP ratio 25.3%), and profitable - 1 trillion 186.3  billion AMD (income/GDP ratio 21.8%) with a deficit of 197 billion  AMD (deficit/GDP ratio 3.5%). In the state budget, the real GDP  growth for 2016 was envisaged at a rate of 2.2%, the GDP deflator  index - at a rate of 4%, 12- month inflation - at 4% (+ 1.5%), and  the state budget deficit - at 3% , 5% of GDP. Nevertheless, by the  end of the year, GDP growth remained at the level of 0.2-0.3%,  under-collected taxes and exceeded the planned deficit level in the  state budget by 2%.

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